Ch•vlty r•glstf•tlon numb•r 10958SO IEngl•nd and Wal•s) THE ERNEST HECHT CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ERNEST HECHT CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru•t••s M8 B Jungr Mr R Ward Mr B 8arkow Charlty numb•r (England and Wal••) 1095850 Ind•p•nd•nt •xamln•r Glazers 843 Flnchley Road London NW118NA
THE ERNEST HECHT CHARITABLE FOUNDATION CONTENTS Pag• Trustees, report Independent examlneI8 report Statement of financlal acllvitles Balance sheet Note8 to the financial •tstement$ 7-13
THE ERNEST HECHT CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees presenl their annual report and financial statements for the year ended 31 December 2024. The a¢count3 have been prepared in aG¢ordance wlth the accounting poliGies ¥el oul in note 1 to Ihe accounts and comply with the charity's governing document. the Charities Act 2011 and Reporting by Charlties; Statemenl of Recommended Practice applicable to charit168 preparing their account5 in accordance with the Financial Reporting standard tor Smaller Entities published in July 2014. ObJ•Gtives and activiti•s The charlty's objects are to raise and distribute funds for the following purposes., The advancemenl of education, the relief of poverty and the advancement of religion with Ihe prlmary oblect of providlng help to a variety of disadvantaged people in need of support, including the mentglly and physically (Jisabled and the aged, to help them live a full and 5allsfylng Ilfe In the community. The charlty carrles out these objectives by maklng grants to charitles in the sectors of advancement of education, sports, the arts, and towards the relief of poverty and advancement of r81igion throughout England and Wales, and there has been no change in these policles during the year. The trustee3 have paid due gard lo guldance issued by the Charity Commission in deciding what actlvitles the charily should undertake. The Irustees have conllnued lo support a wde range of charities by awarding grants thal benefit the disadvantaged and promote the advancement of the arts and education. Achl•v•m•nts and p•rformane• The tru$lee$ are confldent that their aclivilles a$ delalled above In 2024 have "made a difference" lo the vulnerable, young and elderfy. Financlal r•vl•w The transactions and financial position of the Charity are as set out in the attached financlal statements and in the opinion of the trustees the State of the Charity's affairs is satisfactory. 11 is the policy of the trustees to maintain re8erves at an adequate level in order to meet the c05t of management, to meet agreed commitments for grants and to be able to respond to additional requests for assistance as received. The trustees have assessed the major risks to which the charity Is exposed. and are sal18fied that systems are in place to mitigate exposure lo the major risks. Plans for futur• p•rlods It is the intention of the trustees that the charity's remalnlng fund5 be dlslributed during the ensuing year and the charrty subsequently be wound up. Structur•? governanc• and m•n•g•m•nt The charity was established by a charitable trusl deod dated 18 November 2002. The trustee5 who served durfng the year we. Ms B Jungr Mr R Ward Mr B Barkow Trustee5 are appointed in accordance with the Charlty's trusl deed, A new trustee may be appointed by a resolution of the Iruslees recorded in the mlnutes and signed by a trustee.
THE ERNEST HECHT CHARITABLE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Applic81ions are made to Ihe Charity using 8n application form avallable on ils web81ts. The applicatlons are summari8ad and cir¢ula18d to the Iruslees monthly, Tha trustees meet quarterly to agrgè whSch granls should bè made. Tha trustees Intend lo conlinv8 to rn8ke grants In the manner de5Gribed on the Charlty Comml8slon's websSte. There are no connected charities. The Itustees, report was approved by the Board of Trustaes. Ms B Jungr Trustee Mr R W8rd Trustee Dal8:
THE ERNEST HECHT CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ERNEST HECHT CHARITABLE FOUNDATION I report to the trustees on my examination of the financial statements of The Emest Hecht Charitable Foundation {the charity) for the year ended 31 December 2024. R•¥pon•lbllltl•s and ba•ls of r?port A8 the trustees of the charity you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Charities Act 2011. report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515){bl of the Charities Act 2011. Ind•p•ndent ex•mln•r'• •tat•m•nt Your attention is drawn to the fact that the charity has prepared the financial $lalements In accordance with the relevant verslon of the Statement of Recommended Practice applicable to charltles prep8rlng their financial ststements in accordance wlth the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland {FRS 102) in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which 1$ referred to in the extanl regulations but has now been wilhdrawn. l understand that thls has been done in order for the financial statements to provlde a true and fair vlew in a¢Gordance with UK Generally Accepted Accounting Practice. I have Completed my examination. l conflrm Ihal no matter5 have come to my attention In connectlon wlth the examination glvlng me cause to believe that In any materlal respect.. accounting records were not kept Sn respect of the charlty as requlred by $e¢llon 130 of the Charllle8 Act 2011. the financial stalement8 do not a¢¢ord wlth those records., or the financial Statements do not comply with the applicable requirements Goncerning the form and content of financial slatemenls sel out in the Charities (Accounts and Reports} Regulation8 2008 other Ihan any requirement that the financlal statements give a true and falr view, which Is not a matter considered as part of an independent examlnatlon. I have no concerns and have come across no other matters in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of Ihe finan¢i81 statemenls to be reached. Glaz•r• 843 Finchley Road London NW11 8NA Date-.
THE ERNEST HECHT CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unr•¥lrlGl•d Total lund• 2024 2023 Noto• Investments 130,520 110,839 •ndlturo on.. Charitable aclivitivs 2,266,186 894,219 N•t •xp•ndlturo foi th• y••rl N•t mov•m•nt In funds 12,135,866) (783,3801 Fund balances at 1 January 2024 4,450.930 5,234,310 Vund balanc•s at 31 D•cemb•r 2024 2,315,264 4.450.930 The statement of financial activities includes all gains and losses recognl8ed in the year. The statement of financlal activities includes all galn5 and losses recognlsed In the year. All Income and expendilure derive from continuing acliville5.
THE ERNEST HECHT CHARITABLE FOUNDATION BALANCE SHEFr ASAT31 DECEMBER 2024 2024 2023 Notas Flxad assets Inveslmenls 10 471.645 urreht ao0•t4 C88h at bank and In hond 2.316.499 3,9110.490 Cr•dltor4: amount•"falllng du• wlthln on• y••r 11 {1,230) 11.200) Nel current a••ets 2.315,269 3.979,290 Total as8•ts1o38 currnnt Il•blllU• 2,315,289 4,450,935 Crodltorn: amounts falllng duo after mor• than ono yeur 12 (51 (5) Net as$ets 2.316,264 4.450.930 Thé fund• of th• charmy Unr8sMcted funds 13 2,315,264 4,450,930 2,315.264 4,450,930 The flnanclal slalements were approved by th8 tru8to09 on,. 11/4 Ms B Jungr Trustee Mr R W8na Trustee
THE ERNEST HECHT CHARITABLE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Not•• C••h flows from op•ratlng •ctlviti•s Cash absorbed by operations 16 {2,266,1561 {894,699) Invostlng actlvltl•• Proceeds on disposal of investments Investment income received 507.837 94,328 177,339 75.427 N•t cash geTr•rat•d from Inv•stlng actlvltl•• 602,165 252.766 N•t eash uMd In fln•nclng actitIO¥ Net d•crea•¢ In cash and cash •qulval•nls (1,683,991) (641,933) Cash and cash equivalents al beginnln9 of year 3,980,490 4,622,423 Cash and c••h •qylv•l•nts at end of y•ar 2.318,499 3,980,490
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlfftg poll¢l•s Ch•rfty Inform•tlon The Erne51 Hecht Charflable Foundatlon Is an unincorporated charity, establlshed by a charilable trust daled 18 November 2002, and with a principal address of 843 Finchley Road, London NW11 6NA. 1.1 Accountlng conv•ntlon The financial statements have been prepared In accordance with the charity'5 governlng document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalernent of Recommended Practice applicable lo charities preparing their ac¢ounls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting period8 commencing from 1 January 20161. The charity 19 a Public Benefit Entity as dèfined by FRS 102. The charity ha5 taken advantage of the provisions in the SORP for charlties applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The finanolal slalements have departed Irom Ihe CharS1ies (Accounts and Reports) Regulations 2008 only to the extent requlred to provlde a true and falr view Thls departLire has involved lollowlng the Slalemenl ol Recx)mmended Practice lur charili6s applylng FRS 102 rather than Ihfj verslon of the Slalemenl of Recommended PraGtiGe which is referred to in the Regulallons but whlch has sinc8 been wilhdrawn. The financial slalemenls are prepared in slerllng, which is the functional currency of the Gharfty. Monelary amounts in these financlal statements a rounded to the nearest £. The financial statements have been prepared under the hlstorical Gosl conventlon, Imodified to include the revaluation of freehold properties and lo include inveslment properties and c8rtain financial Instruments al f•ir valuel. The principal accounting policies adopted are set out below. 1.2 Golng conc•rn At the time of appfoving the finan¢lal statements, the Irustees have a reasonable expectation thal the charlty has adequate resources lo continue in operallonal existence for the foreseeable future. Thus Ihe trtee5 continue Io adopt the going concern basis of accounting in preparlng the financial statements. 1.3 Gharlt•bl• lund• Unre51ricled funds are avallable for use at the dlscretion of the trustees in furtheranc8 of theif charitable objectives. RestriGted fund5 are subject lo speclfic condition8 by donors or grantors as to how they rnay bè used. The purposes and use5 of the restricted funds are set out in the notes to the financlal slat&ment5. Endowment funds are sublecl to specific condltlons by donors that the capltal must be m8inlained by the charity. 1.4 Incom• Income 18 recognised vthen the charlty 15 legally entitled to It after any perfomianGe condllion8 have been met. the amounts can be measured reliably, and il Is probable that income vjlll be recelved. Cash donations are cOgnised on recelpt. Other donations are reulgnlsed once the charlly ha6 been nolified of the donation, unleys performance condrtions require deferral of the amount, Income tax recoverable in relation to donalions recelved under Gift Ald or deeds of covenant Is recognised ot the tlme of the donation. Legacles are rocognSsed on receipt or otherwise if the charlty has been nollfied of an impending dislflbution. the amount is known, and receipt is expected. If the amount is not known, the lega¢y 18 Ireated a8 conllngent aBsel.
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcl•s (Contlnu•d) 1.5 Exp•ndltur• Re30ur¢es expended are accounted for on an accruals basls. 1.6 Fix•d asset Inv••tm•nt• Fixed 8S8el inveslmenls are inllially measured al Iransa¢tlon price excluding transaction costs, and are 5ub5equenlly measured at fair value at each reporllng dale. Charige8 in falr value are re¢o9nised in nel incomel{expendilure} for the year. Transaction costs are expensed as incurfed. 1.7 Ca•h •nd cash •qulval•nt• Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liqu5d investments with original maturities of three months or less, and bank overdrafts, Bank overdrafts are shown wilhln borrowlngs in current liabilities. B••ie flnanclal ass•t Basic financial as8els, which include debtors and cash and bank balances, are inillally measured 8t transaction price includlng transacllon cosls and are subsequently carrled al amortised c08t V8ing the effeclive intere.st method unl88S the arrangement constitutes a finanGing transaction. where the transaction 18 rneasur&d at the present value of the future receipts discounted at a market rale of Inleresl. Financial assets classified as receivable within one year are not amortised. Baglc flnan¢lal Ilabiiiei•s Ba$lc. financial Ilabilities. Including credllors and bank loans are inltlally r8Gognlsed al transactFon prlce unless lh# arrangement Gunslllules a finsncing transacllon, where the debt in81rument is mo¥Jsured al the presenl V81ue ol the future payments discounted at a market rate of interest. Financial Ilabilities classlfied as payable wlthln one year are not amortised. Debt instrument8 are subsequently carried at amortl8ed c08t, u$lng the effectlve Interest rate method. Trade credilcrs are obllgations lo pay for goods or services that have been acqulred in the ordin8ry course of operations from suppllers. Amounts payable are classified as current Ilabililies if payment 18 due withln onè year or less. If not, they are presented as non-currenl Ilabilities. Trade Creditors are recognised initially at tfansaction price and subsequently measured al amortis,'ed cost using the effectlve interest method. D•r•eognlelon of fln•ncial Ilabllll•s Flnancial Ilabilities 8re derecognlsed when the charliy's contractual obllgations expire or are discharged or cancelled. 1.8 Employ•• b•n•llt The cost of any unused huliday entitlement is recognised in the period In which the employee's service5 are received. Termination beneflls are recognised immediately as an expense when the charity Is demonstrably comrnltted to terminate the employment of an employee or to provide termination benefits.
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crltlcal accountlng ••tlmate• and Judg•m•nts In Ihe appllcatlon ol the charity's accountlng policies, the trusteeB are required to make judgements. eslimates and assumptions aboul the carrying amounl of assets and liabilities that are not readily apparent from other sources. The estlmales and associated assumptions are based on historical expedence and other factors that are considered lo be relevant. Actual results rnay differ from these estimatps. The estimates and underlying assumptions are reviewed on an ongoing basis. Flevi81ons to accountlng estimates are recognised In the period in which the estimate Is revised where the revision affect8 lY that period, or in Ihe period of the revision and future periods where the revlsion affects both current and future periods. Inv•¥tm•nts Unr••trlet•d lunds Total 2024 2023 Income from listed investments Interest recelvable 53,226 77,294 35.806 75,033 130,520 110,839 Investment income includes £39.877 (2023 £36,192) galn on disposal and £nll unreallsed loss (2023 £16.091) on valuation. Charltabl• a¢llvltl?s 2024 2023 Grant fundlng of activities (see note 5) 2,234,484 864,447 Share of support C0515 (see note 6) Share of governance costs (see note 61 30,442 1,260 28.452 1.320 2,28e,186 894.219 Analysls by fynd Unrestricted funds 2,266,186 894,219
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payabl• 2024 2023 Grants to institutions Access Sport Adur Special Needs Project Age UK Ataxia Art8 4 Dementia Aylesbury Food Bank BLESMA British Dyslexla UK Cardboard Citizens Centrepoint Chiltems Neuro Centre Chinekel Foundation Corby Community Arts Crisis UK Cruse Bereavement Care Electric Storm Youth Holocaust Centre North IHSFA Linden9ate Little Angel Thèatre Lucy Cavendish College Macmillan Cancer Support Marie Curie Cancer Care Mid Surrey Dementia Care Twst Mildmay Mission Hospital Mylor Sallablllly Nightingale Hammerson Nlshkam Swat Opera Circus Paths Hardship Fund Polka Theatre RAF Benevolent Fund Re8Ct Royal British Legion Royal Hospital for Neuro-disability Royal Surgical Aid Soclety RNLI Ruth Hayman Trust Salvation Army St John Ambulance St John & Elizabeth st Mungo's Broadway Salaam Shalom Kitchen The Flre Fighters Charlty The Food Chain Trelya Trlnlty Ho8plce Unlverslty of We3lminster Wintercomfort for the Homeless Worthlng Food Bank 170.000 25.000 500 1,000 500 1,000 15,000 25,000 500 1,000 1,000 150,000 63.687 500 1,000 1,000 80,000 77,684 25,000 300,000 31,000 500 50,000 30,000 500 10.000 66,000 55,000 55,000 125.000 2,000 1.000 500 1,000 5.000 1,000 48,780 5,000 25,000 27,500 500 500 1,000 500 640,000 37,500 310,000 2,000 1,000 soo 1,000 1,000 120.000 180,000 500 500 1,000 500 57.500 500 25,000 1.000 1,000 1,000 1,000 500 25,000 1.000 1,000 1,000 11,000 1,000 500 500 500 500 115,000 500 12.300 20,000 500 10,000 25,000 10-
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Gr•nt• payable qContlnu•d) 2,234,484 864,447 Support costs Support Governanco co•t• cost• 2024 2023 B••l• of Ilocatlon External adminislration c05t5 Investmenl management fees Website cos18 Bank charge$ Sundry expenses 26.049 3,583 221 60 529 26.049 3,583 221 60 529 23,868 3,893 198 60 433 Independent examiners fee 1,260 1,260 1,320 Goveman¢e 30,442 1,260 31,702 29,772 Analysed befveen Charitable activities JO,442 1,260 31,702 29,772 N•1 mov•ment In funds 2024 2023 The net movement in funds is slated after chargingl{credltingl'. Fees payable for the independent examinallon of the charity's financial statements 1,260 1,320 Truste•• None of the trustees (or any person5 connected wlth them) received any remuneration during the year. Expenses totalling £21212023 £10) were paid to the twstee5 in the year. Employ••s The Gharity h8d no employees during thib or the previous year. 11
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Flx•d ass•t Inv•stm•nts Unllst•d Cost or valuatlon At 1 January 2024 Disposals 471,645 {471.645) At 31 December 2024 Carrylng •rnount At 31 DeGember 2024 At 31 December 2023 471,645 11 Cr•dltor•: amounts falllng dy• wlthln on• y••r 2024 2023 Accruals and deferred income 1.230 1.200 12 Cr•dltors: amount• llllng du• aft•r mor• th•n on• y•i 2024 2023 Truslees, capital 13 Unr••trlct•d fund• The unrestricted fund5 of the chartty comprlse the unexpended balances of donation6 and grants which are not subject to specific conditions by donors and grantors a5 to how Ihey may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. Incomlng R••our¢•• At31 r•sourc•• •xp•ndod D•c•rnber 2024 January 2024 General funds 4,450,930 130.520 <2,266,186) 2.315.264 Pr•vlou• y••ri In¢•mlng R••ourc•• r••ourc•• •xp•nd•d D•c•mb•r 2023 J•nu•ry 2023 General funds 5.234.310 110.839 (BQ4,219) 4,450,930 12-
THE ERNEST HECHT CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Relat•d party tranx*ctlon• There were no disclosable related party transactions during the year (2023 - none). 15 T•xatlon The charity is exempt from taxation on its activitie3 because all ils income is 8pplied for charitable purposes. 16 Cash g•nerat•d from op•ratlon 2024 2023 Deficit for the year {2,135,668> (783.380) Adjustments for= Investment income recognised in statement of financial activities (130,520) (110.839) Movements in worklng Capital.. {Increa38)Jdecre85e in debtors Increasel(decrease) in creditors 780 1480) 30 Cash absorb•d by op•r•tlons (2,266,158) (893,919) 13-